Park City, Utah (PRWEB) September 19, 2013
Today, Zane Benefits, the number one online small business health benefits solution, published new information on financial stress in the workplace.
According to Zane Benefits’ website, Purchasing Power recently released a nation-wide survey asking employees about the financial stress they feel on a day-to-day basis and how it affects them at work. Stress over money takes both a mental and physical toll on workers, increasing health related costs and decreasing productivity by a significant amount.
Employers who understand the financial stress of its employees can help improve the financial wellness of their workers and improve the company’s bottom line at the same time.
Financial Wellness is having an understanding of personal financial situations and managing it in a manner in which there is preparation for financial changes. This means:
Having no debt or having a plan to reduce your debt
Living within reasonable means
Having an emergency fund
Saving for retirement
Not being worried about money all of the time
Current Financial State of Full Time Employees
Although 44% of current full time employees say that they are better off financially in 2013 than they were in 2012, that same percentage amount says that they wouldn’t be able to pay $2,000 if an emergency occurred.
Full time workers bring their financial stress to work. 44% of American full time workers say they worry about financial issues during work hours. Furthermore, the survey shows concern that this financial stress is a distraction at work and can have major impact on focus and productivity.
It is suggested that employers provide financial education and financial wellness programs at work to help employees change their money behaviors and increase their financial literacy.
One example would be an employee purchase program which promotes disciplined purchasing through manageable payments and pre-set spending limits and controls to prevent over-spending. By helping employees achieve financial wellness, businesses can increase employee loyalty, build and maintain productivity, and improve job satisfaction.
About Zane Benefits
Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHRA") for defined contribution health care. The flagship software provides a 100% paperless administration experience to small businesses and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about Zane Benefits, visit http://www.zanebenefits.com.